2011 ORS § 311.666¹
Definitions for ORS 311.666 to 311.701

As used in ORS 311.666 (Definitions for ORS 311.666 to 311.701) to 311.701 (Senior Property Tax Deferral Revolving Account):

(1) County median RMV means the median real market value entered on the last certified assessment and tax roll for all residential improved properties in the county in which a homestead is located.

(2) Homestead means the owner occupied principal dwelling, either real or personal property, owned by the taxpayer and the tax lot upon which it is located. If the homestead is located in a multiunit building, the homestead is the portion of the building actually used as the principal dwelling and its percentage of the value of the common elements and of the value of the tax lot upon which it is built. The percentage is the value of the unit consisting of the homestead compared to the total value of the building exclusive of the common elements, if any.

(3) Household income has the meaning given that term in ORS 310.630 (Definitions for ORS 310.630 to 310.706).

(4)(a) Net worth means the sum of the current market value of all assets, including real property, cash, savings accounts, bonds and other investments, after deducting outstanding liabilities.

(b) Net worth does not include the value of a homestead for which deferral is claimed under ORS 311.666 (Definitions for ORS 311.666 to 311.701) to 311.701 (Senior Property Tax Deferral Revolving Account), the cash value of life insurance policies on the life of a taxpayer or tangible personal property owned by a taxpayer.

(5) Person with a disability means an individual who has been determined to be eligible to receive or who is receiving federal Social Security benefits due to disability or blindness, including an individual who is receiving Social Security survivor benefits in lieu of Social Security benefits due to disability or blindness.

(6) Tax-deferred property means the property upon which taxes are deferred under ORS 311.666 (Definitions for ORS 311.666 to 311.701) to 311.701 (Senior Property Tax Deferral Revolving Account).

(7) Taxes or property taxes means ad valorem taxes, assessments, fees and charges entered on the assessment and tax roll.

(8) Taxpayer means an individual who has filed, as an individual or jointly, a claim for deferral under ORS 311.666 (Definitions for ORS 311.666 to 311.701) to 311.701 (Senior Property Tax Deferral Revolving Account).

(9)(a) Transferee means, without limitation, an heir, legatee, devisee, distributee of an estate of a deceased individual, the assignee or donee of an insolvent individual or a person acting in a fiduciary capacity on behalf of a transferee.

(b) Transferee does not mean a bona fide purchaser for value.

(10) U.S. City Average Consumer Price Index means the U.S. City Average Consumer Price Index for All Urban Consumers (All Items) as published by the Bureau of Labor Statistics of the United States Department of Labor. [1963 c.569 §7; 1977 c.160 §1; 1983 c.550 §1; 1999 c.1097 §1; 2001 c.184 §1; 2007 c.70 §77; 2011 c.723 §1]

Note: Section 24, chapter 723, Oregon Laws 2011, provides:

Sec. 24. (1) The amendments to ORS 305.612 (Reciprocal offset of tax refunds in payment of liquidated debt or certain amounts payable), 311.356 (Receipt and notation by tax collector of property tax payments), 311.666 (Definitions for ORS 311.666 to 311.701), 311.668 (Eligibility of individuals by age or disability), 311.670 (Eligibility of property), 311.672 (Claim form), 311.676 (State to pay counties amount equivalent to deferred taxes), 311.679 (Estimate of deferred taxes), 311.681 (Request for retroactive deferral), 311.684 (Events requiring payment of deferred tax and interest), 311.686 (Time for payments), 311.688 (Claim by spouse to continue tax deferral), 311.689 (Certification by taxpayers of continuing eligibility), 311.691 (Taxes unpaid before deferral as lien), 311.693 (Application to delay foreclosure), 311.695 (Joint and several liability of transferees for deferral amounts), 311.700 (Deed or contract clauses prohibiting application for deferral are void), 311.701 (Senior Property Tax Deferral Revolving Account), 314.430 (Warrant for collection of taxes) and 410.422 (Oregon Project Independence Fund) by sections 1 to 4, 6 to 18, 20, 21 and 29 of this 2011 Act apply to property tax years beginning on or after July 1, 2011.

(2) The amendments to ORS 311.674 (Listing of tax-deferred property) by section 5 of this 2011 Act apply to interest that accrues on taxes advanced to counties for tax-deferred property for property tax years beginning on or after July 1, 2011.

(3) A claim for an initial year of deferral, or for continued deferral, under ORS 311.666 (Definitions for ORS 311.666 to 311.701) to 311.701 (Senior Property Tax Deferral Revolving Account) may not be filed on or after April 16, 2021, and deferral may not be granted for a property tax year beginning after July 1, 2021. [2011 c.723 §24; 2011 c.723 §31]